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Banknifty Intraday Analysis for 23rd December 2024NSE:BANKNIFTY Index closed near 50760 level and Maximum Call and Put Writing near CMP as below in December Month contract: Call Writing 52000 Strike – 21.56 Lakh 51500 Strike – 17.66 Lakh 51000 Strike – 11.89 Lakh Put Writing 50000 Strike – 15.07 Lakh 51000 Strike – 10.96 Lakh 50500 Strike – 9.68 Lakh Index has resistance near 51300 – 51500 range and if index crosses and sustains above this level then may reach near 51900 – 52000 range. Index has immediate support near 50400 - 50300 range and if this support is broken then index may tank near 49600 - 49500 range.
NSE:BANKNIFTY
by RKMAURYA
Finnifty Intraday Analysis for 23rd December 2024NSE:CNXFINANCE Index closed near 23510 level and Maximum Call and Put Writing near CMP as below in December Month contract: Call Writing 24000 Strike – 2.25 Lakh 24500 Strike – 1.90 Lakh 24600 Strike – 1.87 Lakh Put Writing 23000 Strike – 2.20 Lakh 24000 Strike – 1.31 Lakh 23500 Strike – 1.23 Lakh Index has resistance near 23750 - 23800 range and if index crosses and sustains above this level then may reach near 23950 - 24000 range. Index has immediate support near 23500 – 23450 range and if this support is broken then index may tank near 23150 – 23100 range.
NSE:CNXFINANCE
by RKMAURYA
Midnifty Intraday Analysis for 23rd December 2024NSE:NIFTY_MID_SELECT Index closed near 12685 level and Maximum Call and Put Writing near CMP as below in December Month contract: Call Writing 13000 Strike – 12.19 Lakh 12900 Strike – 4.87 Lakh 12800 Strike – 2.54 Lakh Put Writing 12500 Strike – 7.11 Lakh 12600 Strike – 4.52 Lakh 12700 Strike – 3.57 Lakh Index has immediate resistance near 12850 – 12900 range and if index crosses and sustains above this level then may reach 13000 – 13100 range. Index has immediate support near 12600 – 12550 range and if this support is broken then index may tank near 12400 – 12350 range.
NSE:NIFTY_MID_SELECT
by RKMAURYA
2
From Novice to Pro: Navigating Support & Resistance Like a BossGreetings to all. I trust that you are all thriving in both your personal lives and trading endeavors. Today, I present educational content aimed at understanding the concepts of support and resistance in chart analysis. Support and resistance are key concepts in technical analysis used to identify potential price levels where an asset's price might reverse, stall, or consolidate. They are often visualized on a price chart and are critical for traders making decisions about entry, exit, and stop-loss levels. 1. Support: Definition: Support is a price level at which a downward trend may pause or reverse due to a concentration of buying interest. Why it works: Traders perceive this level as a "bargain," increasing demand and preventing further price drops. Visualization: On a chart, support levels often appear as a horizontal line or a sloping line below the current price where previous price action reversed or consolidated. Breakthroughs: If the price breaks below a support level, it may indicate a continuation of the downtrend. 2. Resistance: Definition: Resistance is a price level where an upward trend might pause or reverse due to selling pressure or profit-taking. Why it works: Traders perceive this level as "expensive," reducing demand and increasing selling activity. Visualization: On a chart, resistance levels are horizontal or sloping lines above the current price where the price struggled to move higher in the past. Breakthroughs: If the price breaks above a resistance level, it may indicate the start of a new upward trend. Common Characteristics of Support and Resistance: Role Reversal: Once a support level is broken, it often becomes a new resistance level, and vice versa. Psychological Levels: Round numbers (e.g., $50, $100) often act as strong support or resistance due to psychological significance. Volume Confirmation : High trading volume near these levels reinforces their strength. Types of Support and Resistance: Horizontal Lines: Based on past price action. Trendlines : Diagonal lines formed by connecting higher lows (support) or lower highs (resistance) in a trend. Moving Averages: Dynamic levels that adjust with price movement, often acting as support or resistance. Fibonacci Retracement: Levels based on mathematical ratios indicating potential reversal zones. How to Use Support and Resistance: Entry Points: Buy near support levels or after a breakout above resistance. Exit Points: Sell near resistance levels or after a breakdown below support. Risk Management: Place stop-loss orders just below support (for long positions) or above resistance (for short positions). Today, I decided to share some educational content, as my previous posts have primarily focused on trade ideas. I hope that you all would find this educational material valuable and engaging. If you appreciate this type of content, I encourage you to show your support by liking this post and following me for more educational insights in the future.
NSE:ASKAUTOLTDEducation
by TraderRahulPal
2
Nifty 50 - Portfolio Colour similar to color of Christmas?Year endings have historically been famous for a big correction and 2024 is no different. As I had mentioned in my previous idea, 23900, 23300 are crucial support to Nifty and 24300, 24800 are strong resistances We had seen a good bounce from 23300 to 24780 and then a good fall once 24300 was broken again. 23200-23300 will be a key level to understand next trend for Nifty. As we can see, there is a confluence of trendlines and demand zone around 23200. If we see a bear trap forming at this zone, one can expect 25000+ levels in January 2025. But if 23200 is broken, bloodbath may continue till budget with next key support zones being 22700, 22000, 21500. Market is going to be volatile as we are going to see a change in lot size of Nifty 50 from new year. It is better to be sector specific for swing trading.
NSE:NIFTYLong
by chartistamey
2
IRCTC-A monopoly stock available at discount!Technically, IRCTC has been in an uptrend since its listing in 2019. Stock has taken support multiple times at trendline visible on chart. If stock breaks this trendline due to bearish broader market, we can see a swift move towards 660 levels which is yet another demand zone. Levels given on chart. As most of us know, it is a monopoly PSU stock and has big potential in long term given the expansion of rail networks in India. It is not a recommendation but my personal opinion. I am a NISM Certified research analyst and not SEBI registered.
NSE:IRCTCLong
by chartistamey
4
Nifty Intraday Analysis for 20th December 2024NSE:NIFTY Index closed near 23950 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 24000 Strike – 67.06 Lakh 24500 Strike – 67.03 Lakh 24300 Strike – 39.61 Lakh Put Writing 24000 Strike – 87.98 Lakh 24000 Strike – 66.15 Lakh 23600 Strike – 26.00 Lakh Index has resistance near 24150 - 24200 range and if index crosses and sustains above this level then may reach near 24300 - 24350 range. Index has immediate support near 23850 – 23800 range and if this support is broken then index may tank near 23700 – 23650 range.
NSE:NIFTY
by RKMAURYA
Banknifty Intraday Analysis for 20th December 2024NSE:BANKNIFTY Index closed near 51575 level and Maximum Call and Put Writing near CMP as below in December Month contract: Call Writing 52500 Strike – 21.05 Lakh 52000 Strike – 14.27 Lakh 51500 Strike – 11.46 Lakh Put Writing 51000 Strike – 14.56 Lakh 51500 Strike – 12.07 Lakh 52000 Strike – 11.25 Lakh Index has resistance near 52000 – 52200 range and if index crosses and sustains above this level then may reach near 52500 – 52600 range. Index has immediate support near 51100 - 51000 range and if this support is broken then index may tank near 50400 - 50300 range.
NSE:BANKNIFTY
by RKMAURYA
Finnifty Intraday Analysis for 20th December 2024NSE:CNXFINANCE Index closed near 23905 level and Maximum Call and Put Writing near CMP as below in December Month contract: Call Writing 24500 Strike – 2.07 Lakh 24600 Strike – 1.88 Lakh 24000 Strike – 1.80 Lakh Put Writing 23500 Strike – 1.59 Lakh 24000 Strike – 1.48 Lakh 23800 Strike – 0.94 Lakh Index has resistance near 24150 - 24200 range and if index crosses and sustains above this level then may reach near 24350 - 24400 range. Index has immediate support near 23750 – 23700 range and if this support is broken then index may tank near 23550 – 23500 range.
NSE:CNXFINANCE
by RKMAURYA
Midnifty Intraday Analysis for 20th December 2024NSE:NIFTY_MID_SELECT Index closed near 13025 level and Maximum Call and Put Writing near CMP as below in December Month contract: Call Writing 13200 Strike – 5.80 Lakh 13100 Strike – 3.53 Lakh 13300 Strike – 3.20 Lakh Put Writing 13000 Strike – 6.96 Lakh 12900 Strike – 3.60 Lakh 12800 Strike – 3.02 Lakh Index has immediate resistance near 13175 – 13225 range and if index crosses and sustains above this level then may reach 13350 – 13400 range. Index has immediate support near 12990 – 12950 range and if this support is broken then index may tank near 12850 – 12800 range.
NSE:NIFTY_MID_SELECT
by RKMAURYA
Nifty Short Strangle - Dec 19th ExpiryThis week’s Thursday ( Dec 19th, 2024 ) marks the weekly options expiry. Analyzing the chart, we observe an ascending channel and a descending trendline converging at significant levels for the expiry date. The ascending channel’s upper trendline intersects 25400 on Dec 19th. The descending trend-line intersects 24100 on the same date. If Nifty respects the above trend-lines, then on expiry day, Nifty will be trading between 24100 and 25400. Short Strangle with 24100 PE and 25400 CE could be used to trade this strategy. Risky S&R to watch: The ascending channel’s lower trend-line intersects 24450 on Dec 19th, but this represents a risky support level. And 25000 is a risky resistance level to watch. We suggest not to trade these two levels as they are too risky.
NSE:NIFTY
by Arun_Muthuvijayan
NAM INDIA BREAKOUT AND RETEST SETUP!!📊 Setup: The stock has broken out of a consolidation zone and is now retesting the breakout level around ₹750. • ✅ Entry: Consider buying near ₹750 with signs of support. • 🛑 Stop Loss: Set a stop loss slightly below the retest level at ₹733. • 🎯 Target: Aim for a potential upside target of ₹800, following the breakout momentum. • 📌 Key Observations: • The stock is above its key EMAs, signaling bullish strength. • Look for strong 🔊 volume during the retest to confirm buying interest.
NSE:NAM_INDIALong
by piyushr401
Identifying Institutional footprints using Wyckoff AccumulationHere I am using 63Moons monthly chart to explain how Wyckoff Accumulation works. The Wyckoff Accumulation has 5 major phases. Phase A - Stopping the previous trend Phase A marks the stopping of prior downtrend. The Preliminary Support(PS) indicates that some buyers are showing up but still not enough to stop the downward move. The Selling Climax(SC) is formed by an intense selling activity as investors panic. This is a point of high volatility where panic selling creates big candlesticks and wicks. The strong drop then quickly reverses into a bounce also known as Automatic Rally(AR) as excessive supply is absorbed by buyers. The Secondary Test(ST) happens when the market drops near the SC region testing whether the downtrend is really over or not. At this point the trading volume and volatility tend to be lower. ST generally forms at or above the same price level as the SC, if the ST goes lower than that of Sc one should anticipate new lows or prolonged consolidation. The lows of the SC and the ST and the high of AR set the boundaries of the trading range(TR). Phase B - Building the cause Phase B serves the function of building a cause for new uptrend. Basically the idea is that something cannot happen out of nowhere, that to see a change in price a root cause must first have been built. Generally causes are constructed through a major change of hands between well informed & uninformed operators in an anticipation of the next markup. This institutional accumulation takes a long time sometimes more than a year. As institutions do their due diligence and take their required positions. There are usually multiple STs during Phase B as well as upthrust type actions near the upper range of TR. Early on in Phase B the price swing tends to be wide and accompanied with high volume. As professionals absorb the supply the volume on downswings within the TR tends to diminish. When it appears that the supply is likely to have been exhausted the stock is ready for Phase C. Phase C - Test In Phase C the stock price goes through a decisive test of the remaining supply. In Wyckoffian Analysis a successful test of supply is represented by a spring(shakeout). A low volume spring(or low volume test of a shakeout) indicates that the stock is likely ready to move up. A spring is a price move below the support level of the trading range (which is established by low of STs in Phase A and B) that quickly reverses and moves back to TR. The spring action is very important and ideal because the greater the movement, the more liquidity you will be able to capture and there the more gasoline the subsequent movement will have. Phase D - Trend within range Phase D consists of breakout and confirmation events. After the shakeout event the price should now develop a clear trend movement within the range with wide candles. This is evidenced by a pattern of advances known as Signs of Strength(SOS) on widening price spreads and increasing volume as well as reactions (Last point of Support LPS)on smaller spreads and diminished volumes. During Phase D the price will move at least to the top of the Trading range. LPS in this phase are excellent places to initiate long positions. Phase E - Trend out of range In Phase E the stock breaches the trading range. This phase consists of impulsive and reactive movements and some shakeouts which are short lived. The price here abandons the structure upon which the cause has been built previously and begins a new trend as an effect of the same. Coming to the chart of 63 Moons any pullback near 180-160 is an excellent place to initiate positions. The Phase E is gonna start soon in this scrip. Hope you liked my analysis.
BSE:63MOONSLong
by nishant_bhatt
14
Sunflag Breaking Out Trendline NSE:SUNFLAG broke out today, Closed above Major Levels, and Crossed the Trendline with heavy volumes, with MACD showing a buy signal. 📌Thank you for exploring my idea! I hope you found it valuable. 🙏FLLOW for more 👍BOOST if useful ✍️COMMENT Below your views. Meanwhile, check out my other stock ideas below until this trade is activated. I would love your feedback. Disclaimer: This analysis is intended solely for informational and educational purposes and should not be interpreted as financial advice. It is advisable to consult a qualified financial advisor or conduct thorough research before making investment decisions.
NSE:SUNFLAGLong
by Karanshah137
Nifty Intraday Analysis for 19th December 2024NSE:NIFTY Index closed near 24200 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 24500 Strike – 114.28 Lakh 24300 Strike – 113.59 Lakh 24400 Strike – 104.68 Lakh Put Writing 24000 Strike – 85.55 Lakh 24200 Strike – 74.22 Lakh 23900 Strike – 56.04 Lakh Index has resistance near 24325 - 24350 range and if index crosses and sustains above this level then may reach near 24450 - 24500 range. Index has immediate support near 24050 – 24000 range and if this support is broken then index may tank near 23850 – 23800 range. Big Moment on either side expected after US FOMC Meeting outcome and Commentary on 18 - 19 Dec’24 night.
NSE:NIFTY
by RKMAURYA